just tweeted by jamie @ fxl-
The short-covering rally in EUR/USD saw us reach 1.3180 after dipping as low as 1.3095 after jobless claims. Good sellers are seen in the 1.3085 area while stop-loss buy orders are just above. More sellers are seen at 1.3200/10.
Draghi seems content to sit back and let the LTRO work its way through the system and let the economic data in Europe deteriorate further before moving rates. He also seems content to keep the pressure on European politicians to due the bulk of the heavy lifting from here on out.
The short-covering rally in EUR/USD saw us reach 1.3180 after dipping as low as 1.3095 after jobless claims. Good sellers are seen in the 1.3085 area while stop-loss buy orders are just above. More sellers are seen at 1.3200/10.
Draghi seems content to sit back and let the LTRO work its way through the system and let the economic data in Europe deteriorate further before moving rates. He also seems content to keep the pressure on European politicians to due the bulk of the heavy lifting from here on out.
It definitely feels like we are hitting the breaks at the moment though... we may have a temp low in place, even if just to go up and find more supply to push it lower.
